FunFair (FUN)

$0.016241 (42.19%)

CMC# Market Cap (USD) Volume (24hr) Circulating Supply NVTS Change (7d) Change (24h) Savings Per 1K
122 $106,362,000.00 $6,828,370.00 6,548,880,000 FUN -- 42.19% 22.99% -$6.85

Exchange Pair Volume (24h) Price
Binance FUN/USDT 3,544,071.00 0.0155210000
Binance FUN/BTC 2,398,825.00 0.0000004200
Uniswap (v2) 0X419D0D8BDD9AF5E606AE2232ED285AFF190E711B/ETH 219,221.00 0.0000125774
HitBTC FUN/BTC 22,688.00 0.0000004306
Bitrue FUN/BTC 110,237.00 0.0000004300
Binance FUN/ETH 372,118.00 0.0000125700
Hotbit FUN/USDT 48,374.00 0.0156830000
Bitfinex FUN/USD 23,835.00 0.0155680000
WazirX FUN/USDT 74,323.00 0.0157200000
Bitrue FUN/ETH 10,507.96 0.0000124800
OKEx FUN/BTC 24,193.00 0.0000004280
Gate.io FUN/USDT 45,070.00 0.0156128000
LATOKEN FUN/ETH 214.87 0.0000131400
LATOKEN FUN/USDT 527.50 0.0158800000
HitBTC FUN/USD 16,938.49 0.0159268200
HitBTC FUN/ETH 11,181.42 0.0000125952
Gate.io FUN/ETH 6,479.39 0.0000123732
WazirX FUN/BTC 2,013.93 0.0000004300
BitBNS FUN/INR 5,921.34 1.2000000000
Vebitcoin FUN/TRY 9,123.33 0.1054000000
Uniswap (v1) FUN/ETH 8,508.33 0.0000128368
1inch 0X419D0D8BDD9AF5E606AE2232ED285AFF190E711B/ETH 3,829.65 0.0000132924
Balancer 0X419D0D8BDD9AF5E606AE2232ED285AFF190E711B/USDC 363.44 0.0160265150

Background

FunFair is being developed by FunFair Technologies, an online casino gaming technology and development platform. The project aims to build an Ethereum-based platform that allows licensed third-party operators to build blockchain based casino games. By creating games on a public blockchain the team believes they can offer transparency and prevent cheating by casino operators or players. FunFair aims to engineer a peer-to-peer casino that removes typical casino middlemen and eliminates costly server racks, providing gamers with larger payouts when they win and reducing overhead costs for casino operators. The platform plans to support standard games, such as blackjack, slots, craps, and other games that are designed by FunFair Technologies or other third parties. Despite operating on a public network, the underlying technology is not open source, except for what is needed to make the games provably fair. FunFair plans to create value through their intellectual property, including their platform, games, and other proprietary technology while eventually making most of their project open-source without revealing the intellectual property that gives them a competitive advantage. The firm’s business model focuses on selling access to their platform through white label casino operators and licenses to affiliates that market or refer players to casinos. FunFair Technologies will not mandate third party game developers to open source their designs, except for the parts necessary to ensure provably fair gaming. FunFair (FUN) tokens power the entire FunFair platform. Players are required to use FUN to place bets and any winnings are paid out in FUN tokens by casinos. FUN tokens will be utilized to incentivize game developers, pay affiliate license fees, white label fees, game transaction fees, and any other platform services. While FunFair is currently testing their beta version and providing demo versions of their games on the FunFair website, some of their demo games are currently testable on the Ethereum test network.

Technology

FunFair focuses on provably fair gaming by pre-committing encrypted entropy (measure of true randomness) to the blockchain and revealing it after a game has completed, proving the fairness of the random number generator. Using this process along with game rules coded into smart contracts the team believes games, and their outcomes, can be proven to be fair. FUN tokens are used to power the smart contracts which run the platform and FunFair’s unique random number generator. The team believes that their unique approach to random number generators can allow for a wider range of games on the platform compared to oracle or block hash models. FunFair is developing a proprietary innovation called “fate channels”, which are a modified version of state channels. Fate channels will commit partial seeds from a random number generator to the blockchain before the start of a gaming session. Funds are committed and locked in a smart contract in advance, and all transactions between parties are progressively signed. The final state is sent back to the Ethereum blockchain and verified so that all parties agree on the outcome, thereby allowing the respective parties to withdraw their funds. Fate channels are based on the work done by state channels, similar to Bitcoin’s lightning network, allowing participants to engage in a rapid back-and-forth countersigning of updated “claims” on escrowed funds. Fate channels can enable a fast, low-cost method for random number generation, starting and ending gaming sessions and finally settling sessions with smart contracts on the blockchain. Because only the final state is added to the Ethereum blockchain this scheme can reduce transaction fees (gas) and ensure that both parties involved in a game session behave fairly by requiring co-signing state transitions. Interactions between a casino and the players will predominantly be off-chain, including execution of the smart contracts, unless there is a dispute which will then require execution being sent on-chain to the Ethereum blockchain. FUN tokens will be used by players to bet or play games within the online casino. Game developers and casino affiliates are rewarded in FUN and all fees will be paid in FUN. Any FUN tokens used for game transaction or fate channel fees may be burned for the first two years of operations, although this has not been confirmed by FunFair because some regulators have stated they would classify this as a form of dividend. FunFair will be a browser based online gaming platform utilizing HTML5 and WebGL standards on both mobile devices and desktop computers. Casinos will not control any players funds, instead player always control their funds and place bets directly from their wallet. This will allow players to cash out whenever they want and ensure that they always maintain complete control over their winnings.



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